These questions and answers will help you avoid paying
more than necessary charges
I have been late making a repayment or I
have not been able to make a full balance, what should
Credit card companies will immediately start adding
interest, sometimes going back to the date of the
transaction, and will keep adding interest every day
it is not repaid. To increase the amount of interest
you pay some credit card companies will use your late
payment to repay the most recent transactions first.
As such, even if you are only a day late you can attract
a large interest charge. To reduce these charges as
much as possible take the following steps:
You will incur some interest but the above steps will you minimise these costs.
I have built up a balance and I am not able
to repay it for a while, what are my options?Firstly
you can take advantage of an interest free or low
interest balance transfer option as a short term solutions.
Longer term solutions are to consider cheaper forms
of borrowing such as personal loans or adding it to
your mortgage. You need to carefully consider your
options as each of these will have advantages and